This paper examines Canada’s evolving regional policy, focusing on flexibility and adaptability. Flexibility denotes the system's capacity to adapt over time to shifting policy goals and changing conditions. Adaptability in Canada refers to spatial tailoring of policies and extending policy scope to include ecological sustainability and cultural recognition. It reviews historical regional policy waves, then delves into the current "new regionalism" trend, which scholars term "metagovernance," emphasizing national steering through diverse mechanisms. The paper explores three national policy strategies: flexible governance, territorial adaptation, and community-based regionalism, detailing their structures and engagement mechanisms. It underscores the importance of hybrid contracts for flexibility and adaptability. Finally, the paper distills five lessons from the Canadian experience and highlights ongoing innovations under the Trudeau government.